Anyone who lends $20,000 to an 18-year-old for any purpose ought to be holding the bag for the loss - alone.
The problem is not that 18-year-olds are defaulting on the debt. That was inevitable. The problem was that these loans were made at all, which is what people who have been paying attention to the issue have been saying for decades now.
It’s funny, when the Boomers went to college it was practically free, or affordable enough to be paid on a part-time job while going to school.
Why does it cost as much as a house now?
In exploring these questions, not in demonizing defaulters who were largely coerced via immense social pressure into signing documents they did not understand, is where you will find the truth of the matter.
Because of the government loans.
There are large departments that teach subjects and grant majors where there are almost no jobs.
I totally agree.
College tuition has gone up more than 1000% in the past 40 years, all because government got involved in handing out student loans like candy.
The colleges could charge anything they wanted, and the dumb 18-year olds would just borrow it.
Those loans should not be forgiven, but I'd be OK with forcing universities to cover them by disgorging reparations to the students from their endowments.
That would also cause a lot of Left-wing "perfessers" to lose their jobs. Win-win!
"Baby Talk" Christine Blasey Ford needs a new pair of shoes.
A take-off on "Baby needs a new pair of shoes".
So, they didn’t have parents who could advise them that this was not a good investment? I really have a hard time blaming the lenders who saw a good opportunity since THE GOVERNMENT ITSELF MADE STUDENT LOAN DEBT UNABLE TO BE DISCHARGED VIA BANKRUPTCY! This is another case of “I’m from the government and I’m here to help.”
It’s funny, when the Boomers went to college it was practically free,
Look at it this way, $20 G’s to permanently remove this idiot from our country is a good investment. I wish we could do this with every snowflake loser like him.
As soon as government decided to make college affordable all was lost.
>>Why does it cost as much as a house now?
One reason:
Ohio State employs 88 diversity-related staffers at a cost of $7.3M annually
https://www.thecollegefix.com/ohio-state-employs-88-diversity-related-staffers-at-a-cost-of-7-3m-annually/
Why does it cost as much as a house now?
Availability of student loans allowed colleges and universities to increase tuition and fees at a gazillion times the rate of inflation.
Whatever you subsidize, you will get more of.
Student loan money is crazy cash for the communist left.
Around here, students could take some courses Jr and Sr year at the Community College and have one year of Cleveland State done when they finish HS. And there's public bus transportation within walking distance that would bring them to Cleveland State, fare included in student fees. They could combine that with very available part time jobs.
You'd think that RTA bus would be filled with students. There's only a handful taking advantage of this very excellent option.
What's my point? I have NO sympathy for those who choose student loans for undergraduate degrees.
My year tuition at Ohio State Univ-—1968.....READY????
oNE YEAR-—$375.00
fOR gRAD SCHOOL I WORKED PART TIME CLEANING HOUSES.
stop govt loans!!!...except for medical school and engineering and computer science......( they pay back,ha)..and we need them! ha.
Yep, agree
Want to see the cost of college go down? Stop the government backed loans to these kids. Make them or the parents put up some kind of collateral. Of course the administrators and teachers will wail about their fat paychecks going down to what they should be.
This one just wanted the college experience. He had no intention of working hard so he took the easy classes; none of which prepared him for a real job in the real world so now he feeds chickens and keeps an eye out for elephants in India.
I’m sure he is quite fulfilled. /s
Anybody who takes out a loan knows that the money needs to be paid back.
Anybody not smart enough to understand that should not be in college.
You understand that entire post is a steaming pile, don’t you?